How to be a millionaire?
Maybe you can look up a millionaire and ask that he let on his secret. Or maybe you can observe-and-emulate. But firstly, do you know who are the millionaires in your neighbourhood?
Do you tell by the fancy car which changes each year? Is it by the holiday home in Malibu? Is it by the expensive suits and dresses which cost more than you earn in a month, per piece? Maybe it's that guy who never leaves his computer, who trades stock all day - he must have accumulated enough from 'buying low and selling high' all day.
But wait a minute, there are 3.5 million households in America with a net worth exceeding $1 million, of which 95% have a net worth between $1 million and $10 million - why is it we don't see that many fancy cars, never hear of even 1 million companies which made it big, and are there that many college drop-outs in America??
The statistics and research are out! Through much research by Thomas Stanley (Ph.D) and William Danko (Ph.D), the average millionaire is clearly a different species entirely from the one put in the spotlight by most media. Below is a profile of an average millionaire next door:
Read my introductory post on The Millionaire Next Door to find out more about the makings a millionaire, maybe you will figure out how to be a millionaire yourself!